Global Artificial Intelligence in Payments Market Analysis, 2020

By Components (Solutions, Services), By Deployment (Cloud, On-Premise, Hybrid), By End-User (Bank, Insurance, Wealth Management), By Technology (Machine learning and Deep learning,... Natural language processing, Computer vision , Others), By Applications (Customer Service, Financial Advisory, Risk Management, Compliance & Security, Others), By Region (North America, Europe, Asia-Pacific, Middle- East and Africa, South America), By Country (US, Canada, Mexico, Brazil, Argentina, UK, France, Germany, Spain, UAE, Saudi Arabia, South Africa, China, India, Japan, Australia), By Company Read more

FinTech
Mar 2020
Pages 243
Report Format: PDF, Excel, PPT

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The Global Artificial Intelligence (AI) in Payments Market Analysis, 2020 market research report depicts a deep dive market analysis of statistics of Global Artificial Intelligence in Payments market which consists of region-wise market size, market forecast, CAGR market segmentation, market shares of components, market share of various applications, technology, end-users, deployment, etc.

According to MarkNtel Advisors’ research report titled “Global Artificial Intelligence (AI) in Payments Market Analysis, 2020”, Artificial Intelligence in Payments market across the globe is forecast to grow at the exponential CAGR during 2020-25. The major contributing factor for the growth of the Global Artificial Intelligence in the Payments market is increasing digitalization in banking and financial instruction. The burgeoning digital transformation in the Asia Pacific, a robust increase in P2P payments in China, Europe, the US, and India has been strengthening the Global Payments market. To improve the customer experience, the integration of artificial intelligence in payments is rising at a substantial rate.

Report Coverage	Details
Study Period	Historical Data: 2015-19
	Base Year: 2019
	Forecast Period: 2020-25
Regions Covered	North America
	Europe
	Asia-Pacific
	South America
	Middle East & Africa
Unit Denominations	USD Million/Billion

In 2020, the COVID-19 epidemic across the globe has negatively impacted the investments in artificial intelligence in payments as numerous businesses in APAC and Europe were under lockdown. However, the revival in investments is estimated to occur in 2021, and the market growth is set to witness a steep upward trend.

Moreover, the need for improving customer services, risk management, and financial advisory are some of the key factors contributing to the market growth of Global Artificial Intelligence in the Payments industry.

North America to Dominate in the Forthcoming Period

In 2019, the North America region acquired the major market share in Global Artificial Intelligence in the Payments market. The market share of the region is witnessing a robust growth on an account of the presence of numerous service providers in the region. Moreover, the U.S and Canada are on their way to become a cashless society. As per the Federal Reserve System, the number of core non-cash payments in the US increased by USD 30.6 billion from 2015 and reached to USD 174.2 billion in 2018, due to which the market share of the North America region is expected to increase in the forecast period as well.

Solutions Segment to Witness Robust Growth

In 2019, the solutions segment accounted for the major market share and also it is expected to see astronomical growth due to the rising adoption of IoT and digital mode in the payments market. The demand for solutions is majorly emanating from the banking sector. Moreover, the surging e-commerce industry in the regions such as APAC and MEA can further augment the growth in market share for the solutions segment.

By technology, the customer service segment captured the major market share in 2019 due to the expansion of financial business intending to improve operational efficiency to serve the customers in a better manner, as stated in the MarkNtel Advisors’ research report “Global Artificial Intelligence (AI) in Payments Market Analysis, 2020”.

According to MarkNtel Advisors, the Global Artificial Intelligence in the Payment market is highly fragmented due to the availability of numerous players in the market. The key players with a considerable market share in the Global Artificial Intelligence in the Payments market are IBM Corporation, Amazon Web Services, Inc., Intel Corporation, ComplyAdvantage.com, Samsung Group, Next IT Corporation, and IPsoft Inc.. The companies are continuously working on strategic alliances and new service launches to gain a competitive market share in the industry.

Key Questions Answered in the Market Research Report

What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Global Artificial Intelligence in the Payments industry?
What are the country-wise industry size, growth drivers and challenges, and key market trends?
What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in Global Artificial Intelligence in Payments market?
Who are the key competitors or market players and how they perform in Global Artificial Intelligence in the Payments benchmarking matrix?
What are the key results derived from the market surveys conducted during the course of Global Artificial Intelligence in the Payments market study?

Frequently Asked Questions

A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.

A. The market size/industry size or the market value is measured in terms of USD Million.

A. The Global Artificial Intelligence in Payments Market is expected to grow at an Astronomical CAGR during 2020-25.

A. It is forecast that North America will dominate the market with the majority market share, with market size registering considerably higher CAGR.

A. IBM Corporation, Amazon Web Services, Inc., Intel Corporation, ComplyAdvantage.com, Samsung Group, Next IT Corporation, IPsoft Inc. are few of the leading players in the Global Artificial Intelligence in Payments Market.

A. The customer service segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.

A. The Banking sector grabbed a significant market share continue to grow at the highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Artificial Intelligence in Payments Market.

Introduction
1. Market Segmentation
2. Product Definition
3. Research Process
4. Assumptions
Executive Summary
Expert Verbatim- What our Experts Say?
Global AI in Payments Analysis, 2015-2025F
1. Market Size & Analysis
  1. Revenues
2. Market Share & Analysis
  1. By Components
    1. By Solution
      1. Chatbots
      2. Consumer Behavior Tracking
      3. Customer relationship management
      4. Data Analytics and Visualization
      5. Fraud Detection
      6. Others
    2. By Services
      1. Professional Services
      2. Managed Services
  2. By Deployment
    1. Cloud
    2. On-Premise
    3. Hybrid
  3. By End-Users
    1. Bank
    2. Insurance
    3. Wealth Management
  4. By Technology
    1. Machine Learning and Deep learning
    2. Natural language Processing
    3. Computer Vision
    4. Others
  5. By Applications
    1. Customer Service
    2. Financial Advisory
    3. Risk Management, Compliance and Security
    4. Others
  6. By Region
    1. North America
    2. Europe
    3. Asia-Pacific
    4. Middle East and Africa
    5. South America
  7. By Company
    1. Market Shares, By Revenue
    2. Strategic Factorial Indexing
    3. Competitor Placement in MarkNtel Quadrant
  8. Market Attractiveness Index
    1. By Deployment Type
    2. By End-User
    3. By Technology
    4. By Application
    5. By Region
North America AI in Payments Market Analysis, 2015-2025F
1. Market Size & Analysis
  1. Revenues
2. Market Share & Analysis
  1. By Components
  2. By Deployment
  3. By End-User
  4. By Technology
  5. By Application
  6. By Country
    1. U.S
    2. Canada
    3. Mexico
  7. Market Attractiveness Index
    1. By Deployment Type
    2. By End-User
    3. By Technology
    4. By Application
    5. By Country
Europe AI in Payments Market Analysis, 2015-2025F
1. Market Size & Analysis
  1. Revenues
2. Market Share & Analysis
  1. By Components
  2. By Deployment
  3. By End-User
  4. By Technology
  5. By Application
  6. By Country
    1. U.K
    2. France
    3. Germany
    4. Spain
  7. Market Attractiveness Index
    1. By Deployment Type
    2. By End-User
    3. By Technology
    4. By Application
    5. By Country
Asia-Pacific AI in Payments Market Analysis, 2015-2025F
1. Market Size & Analysis
  1. Revenues
2. Market Share & Analysis
  1. By Components
  2. By Deployment
  3. By End-User
  4. By Technology
  5. By Application
  6. By Country
    1. China
    2. India
    3. Japan
    4. Australia
  7. Market Attractiveness Index
    1. By Deployment Type
    2. By End-User
    3. By Technology
    4. By Application
    5. By Country
Middle East and Africa AI in Payments Market Analysis, 2015-2025F
1. Market Size & Analysis
  1. Revenues
2. Market Share & Analysis
  1. By Components
  2. By Deployment
  3. By End-User
  4. By Technology
  5. By Application
  6. By Country
    1. UAE
    2. Saudi Arabia
    3. South Africa
  7. Market Attractiveness Index
    1. By Deployment Type
    2. By End-User
    3. By Technology
    4. By Application
    5. By Country
South America AI in Payments Market Analysis, 2015-2025F
1. Market Size & Analysis
  1. Revenues
2. Market Share & Analysis
  1. By Components
  2. By Deployment
  3. By End-User
  4. By Technology
  5. By Application
  6. By Country
    1. Brazil
    2. Argentina
  7. Market Attractiveness Index
    1. By Deployment Type
    2. By End-User
    3. By Technology
    4. By Application
    5. By Country
Global AI in Payments Market Policies, Regulations, Product Standards
Global AI in Payments Market Trends & Insights
Global AI in Payments Market Dynamics
1. Growth Drivers
2. Challenges
3. Impact Analysis
Global AI in Payments Market Hotspot & Opportunities
Global AI in Payments Market Key Strategic Imperatives for Success & Growth
Competition Outlook
1. Competition Matrix
  1. Service Portfolio
  2. Target Markets
  3. Target End Users
  4. Research & Development
  5. Strategic Alliances
  6. Strategic Initiatives
2. Company Profiles of top companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
  1. IBM Corporation
  2. Amazon Web Services, Inc.
  3. Intel Corporation
  4. ComplyAdvantage.com
  5. FeedZai
  6. Virtusa Polaris
  7. Pelican
  8. Forter
  9. IPsoft Inc.
  10. Next IT Corporation
  11. Onfido
  12. Ripple Labs Inc.
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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